Actuarial Audit Role - IFRS - Consulting Firm

Actuarial Audit - IFRS

Primary Responsibilities :

- Actuarial Audits: Audit of the client's reserves and systems for true and fair view across Motor, Health, Property and Casualty, Personal and Accident, Health and other lines of business.

- Adherence to Reporting standards (IFRS, IGAAP, USGAAP)

- Review of Assumptions, methodology, controls and results

- Review reserving methodology (e.g. IBNR, PDR, UPR, URR, etc.)

- Reserving: Understanding client's business model, identifying sources of liability, performing data validation, developing run off triangles and claims pattern, calculating IBNR reserves.

- Model Development and Validation: Validating, creating and/or updating models based on new data/ events (e.g. catastrophe modelling, credit rating model, Risk Models)

- Risk Management: Develop internal models and ERM framework; Own, Risk, and Solvency Assessment (ORSA) reports.

- Capital Modelling: Develop stress testing models and review capital adequacy requirements for insurance companies as per local regulations.

- Reinsurance: Reviewing reinsurance agreements, monitor experience with reinsurance, reinsurance structure and structuring solutions.

- IFRS 17: Assist clients with understanding and implementation of IFRS 17 regulations along with any review exercises. This will also include any support with system transformation required.